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Please you excel functions such as Rate, FV, PV, PMT, NPER You are thinking about purchasing a house, and will borrow $250,000 to purchase it.

image text in transcribedPlease you excel functions such as Rate, FV, PV, PMT, NPER

You are thinking about purchasing a house, and will borrow $250,000 to purchase it. If you choose a 30- year loan, and you can afford a pretty big payment of $3,000 per month, what annual rate of interest will create a payment exactly equal to $3,000 per month? 12.24% 13.03% 14.19% 1.18%

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